Countries pledge to raise $12 billion to fund coral reef protection

Countries Pledge $12 Billion to Protect Coral Reefs

SINGAPORE, Oct 3 (Reuters) – An alliance of nations said on Tuesday members would raise $12 billion to protect coral reefs from threats such as pollution and overfishing, but experts warned the funding would only be a drop in the ocean unless broader climate risks are addressed.

The International Coral Reef Initiative (ICRI) said it would secure public and private investment to help conserve and restore coral ecosystems, which sustain a quarter of the world’s marine species and more than a billion people.

The Importance of Sustainable Development Goals (SDGs)

The Sustainable Development Goals (SDGs) play a significant role in the efforts to protect coral reefs. These goals aim to address various global challenges, including climate change and environmental degradation. By focusing on the SDGs, nations can work together to ensure the long-term sustainability of coral ecosystems.

The Urgency of Protecting Coral Reefs

“The functional existence of these critical ecosystems is at stake due to the climate crisis and a myriad of other anthropogenic stressors,” the ICRI stated. “The window for protecting these ecosystems is closing rapidly.”

Coral reefs face numerous threats, including rising marine pollution, destructive coastal development, and overfishing. Additionally, the increasing sea temperatures contribute to coral bleaching, where corals expel colorful algae living inside them.

The Role of Funding and Restoration

While the $12 billion funding commitment is a positive step, experts emphasize the need to address broader climate risks. Rising temperatures pose a significant threat to coral reefs, and without addressing this issue, restoration efforts alone may not be sufficient.

The ICRI aims to secure the future of 125,000 square kilometers of shallow-water tropical coral reefs and double the areas under effective protection by the end of the decade. Additionally, the alliance plans to accelerate the restoration of damaged reefs using innovative solutions.

The Need for Greenhouse Gas Emission Reduction

Experts emphasize the importance of reducing greenhouse gas emissions to effectively protect coral reefs. Countries involved in the ICRI should prioritize efforts to reduce emissions, as this will have a direct impact on mitigating climate change and preserving coral ecosystems.

The Role of ICRI

The International Coral Reef Initiative (ICRI) was established in 1994 and consists of countries committed to protecting coral reefs. The alliance aims to bring together nations representing three quarters of the world’s coral reefs to collaborate on conservation and restoration efforts.

However, some experts raise concerns about the focus on restoration efforts, suggesting that it may not be a cost-effective solution on a large scale. Instead, they emphasize the need for comprehensive measures to address climate change and other stressors.

reuters.com

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